I have no desire to ‘school’ anyone, but i admit to being bewildered at its appeal. If the considered crypto currency speculator concedes it’s tantamount to gambling, then what is its relative appeal vis-a-vis the thousands of other forms of legitimate gambling (sports betting, casinos, any one of thousands of financial instruments etc) that can give bigger returns even faster (e.g. you can easily make 100x on your money in <2 minutes in a horse race, or 36x your money on a single roulette wheel spin)?
The answer, i suspect, lies in the psychological fallacy which tends to underpin all bubbles - the perceived risk-adjusted return on crypto greatly outweighs that of other forms of gambling. The implication is that, despite ‘knowing’ or admitting that one is gambling to all intents and purposes, the very partaking in that behaviour betrays the rational recognition of gambling (where returns are distributed according to risk).